Five Years of Dodd-Frank: Are We Better Off?
Washington, DC,
July 21, 2015
Today, Congressman French Hill (AR-2) released the following statement on the 5th anniversary of President Obama signing the Dodd-Frank Wall Street Reform and Consumer Protection Act into law...
Today, Congressman French Hill (AR-2) released the following statement on the 5th anniversary of President Obama signing the Dodd-Frank Wall Street Reform and Consumer Protection Act into law: “Under the promise of ending future bank bailouts, enhancing consumer protection, and boosting our overall economy, the President signed Dodd-Frank into law. Five years later, the concept of “too-big-to-fail” is stronger than ever, we are losing community financial institutions at a rate of about one per day, business formation is at the lowest point since the Carter Administration, and consumers are hurt by fewer choices and higher fees. “Hardworking people throughout Arkansas and the rest of the country were sold a bill of goods on Dodd-Frank, and instead of addressing the true cause of the crisis—misguided housing policy— the law has only increased burdensome regulation and restricted Main Street’s access to much-needed credit and capital. “It is time for Congress to listen and work together to fix Dodd-Frank and enact policies that guarantee a safe and sound financial system, enhance U.S. competitiveness, and ensure consumers have access to safe and affordable credit.” ### |
